Margot Robbie’s gin brand could be worth more than $500million (£378m), according to an industry expert.
Launched last year in Australia, Robbie’s Papa Salt Gin has expanded to the UK market following a successful first 12 months which saw it flying off the shelves.
According to Colin McKenzie – a spirits expert and partner at Gradient who has worked with brands such as Dom Perignon, James Beam, and House of Suntory – the Barbie actress’ tipple could reach a valuation of more than half-a-billion dollars.
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Robbie set up the sideline with her husband Tom Ackerley and friends Josey McNamara, Regan Riskas and Charlie Maas. And it’s safe to say that Robbie and company’s dabble in the spirit world has been a lucrative one.
Recently it was revealed that sales had exceeded expectations, having shifted “more than quadruple what we originally planned for our initial 12 months of sales”.
(Image: Papa Salt)
“Celebrities no longer want to merely endorse spirits, they want to own them” says McKenzie, Chief Client Officer of experiential agency Gradient.
“One reason for this shift is the potential for a lucrative exit. George Clooney’s Casamigos Tequila sold for $1billion in 2017, while Ryan Reynolds’ Aviation Gin sold for $610million in 2020.
“Celebrities are becoming increasingly aware of the value of their influence and are choosing to leverage it to benefit themselves rather than just through endorsements for others.”
(Image: Getty Images)
McKenzie continued: “Another significant reason is that ownership allows them to have more control over every aspect of the product, from the taste to the packaging, bottle design, and branding. By creating a product that reflects their personality and identity, celebrities can make a more personal connection with their audience.”
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Source: Celebrities - dailystar.co.uk
